Streetbeat News

Acquisitions Mergers

AVAV

AeroVironment, Inc. has announced its plan to acquire Tomahawk Robotics, a leader in AI-enabled robotic control systems, for a total purchase price of $120 million, to be paid in a mix of cash and stock. The acquisition will allow for deeper integration of both companies' technology, leading to enhanced interoperability and interconnectivity of unmanned systems. Tomahawk Robotics will become part of the small UAS (SUAS) business unit within AeroVironment's Unmanned Systems segment.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 1:11 pm

PANW

S

SentinelOne Inc (NYSE:S) shares are trading lower after a 16% rise on Monday. The company is reportedly exploring strategic options, including a potential sale, and has hired investment bank Qatalyst Partners for advice. The cybersecurity sector saw a boost after Palo Alto Networks Inc (NASDAQ:PANW) issued strong earnings guidance. SentinelOne is set to report Q2 earnings on Aug. 31, with an expected loss of 14 cents per share and revenue of $140.98 million.

Portfolio Pulse from Adam Eckert

August 22, 2023 | 1:02 pm

SSTI

SoundThinking, Inc. (NASDAQ:SSTI) has acquired SafePointe, LLC, a provider of intelligent weapons detection technology. The acquisition allows SoundThinking to enter the $20 billion global weapons detection market and extends its SafetySmart™ platform with a proven weapons detection solution. SafePointe's technology has been used in various high-traffic environments such as workplaces, museums, schools, casinos, financial institutions, and hospitals. The acquisition is expected to be accretive to SoundThinking's earnings per share by the end of 2024.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 12:38 pm

SIDU

Satellite manufacturing and space services company, Sidus Space (NASDAQ:SIDU), has acquired Exo-Space, a firm specializing in Edge Artificial Intelligence (AI) software and hardware for space applications. The acquisition is part of Sidus's strategy to tap into the AI sector and expand its offerings in the Earth and Space Observations services market. The deal, which includes cash, stock options, and performance bonus incentives, is expected to have a positive impact on Sidus's EBITDA. Sidus has also issued non-qualified stock option awards to purchase an aggregate of 3,955,212 shares of Class A common stock to certain former employees of Exo-Space.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 12:32 pm

NAAS

NaaS Technology is set to acquire 100% of the issued and outstanding shares of Charge Amps for a consideration of approximately $66.4 million.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:22 pm

ATVI

MSFT

UBSFY

Microsoft has revised its proposal to acquire Activision Blizzard after facing regulatory challenges in the UK, US, and Europe. The new proposal, which is under review by the UK's Competition and Markets Authority, includes Microsoft relinquishing cloud rights for existing and upcoming Activision PC and console games for the next 15 years to UbiSoft Entertainment. Microsoft will also be required to release game versions on OS other than its proprietary Windows.

Portfolio Pulse from Anusuya Lahiri

August 22, 2023 | 12:09 pm

MEDS

TRxADE HEALTH has announced that its recently merged entity, Superlatus, will acquire The Urgent Company. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:08 pm

APO

Apollo Funds has acquired a majority interest in Composite Advanced Technologies (CATEC), a Houston-based company that manufactures large format Type IV cylinders for natural gas and hydrogen applications. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:05 pm

IBM

Francisco Partners is set to acquire The Weather Company assets from IBM. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:04 pm

ET

OEC

WLKP

Insider trades were noted in Energy Transfer LP (ET), Orion S.A. (OEC), and Westlake Chemical Partners LP (WLKP). ET's Executive Chairman acquired 3 million shares for around $38.89 million, following a merger agreement with Crestwood Equity Partners. OEC's CEO bought 15,000 shares for around $323,850 after reporting upbeat Q2 earnings. WLKP's SVP bought 5,000 shares for around $110,410 after posting downbeat quarterly earnings.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 11:24 am